Taking On Temptation: 5 Questions To Answer Before You Buy

Each of us is faced by temptation all the time.  We are pummeled with advertising, sales, special offers, and over-hyped merchandise which seeks to draw our eyes – or more specifically our wallets – into the stores all around us.

Perhaps you are waiting for someone, wandering through the mall, or simply browsing around.  Then disaster strikes!  A nice shiny object grabs your eye and attention, causing you to pick it up, head to the register, whip out your charge card, and take it home.

But later, after you get home, you’ll realize what just happened – you got tricked into buying something that you didn’t need.  The glitz and the glam succeeded in their purpose of separating you from your hard-earned dollars!  So how can you prevent it next time, and keep those dollars in your account rather than theirs?  Ask yourself a few things:

Do I need this? If you don’t need the item, on a strict budget you shouldn’t buy it.  Plain and simple.  Do you have a plan for how you will use it?  A real reason to buy it?  Make sure that it is a reasonable purchase.  I have seen a lot of people buy something, only to realize later they already had it or something similar enough not to matter!  So consider your need for the item before you buy it.  What are you going to do with it?

Can I afford this right now? If you can’t pay for something right then, in cash, don’t buy it.  One habit that people in debt tend to have is to buy on credit, and the first thing most debt consultants will tell you to do is to shred the credit cards.  Putting a purchase on a credit card in anticipation of having the money is not a good idea!  If it isn’t something you have budgeted or saved for, why are you buying it?

Is there a better or cheaper option? If you plan your purchases ahead of time, it is easy to check around to look for better deals, prices, features, or even used versions.  Craigslist is a site most people know about, but what about similar sites designed to share or sell items?  Freecycle, for example, supports local item exchange.  Thrift stores are worth a look.  Basically, just make sure that you can’t get something that is effectively the same for a much lower price! (Maybe the neighbors even have one you can borrow!)

Why do I want this? Are you purchasing this item because it was sold to you?  Or because you want/need/should buy it?  We are often inclined to buy things because they are new, shiny, or a cool gadget of some sort.  Don’t try to keep up with the Joneses! This doesn’t fulfill a need; rather, it simply leads to a sense of general dissatisfaction.  Figure out why you want to buy something and sometimes you can resist the urge to do so.

Am I going to regret buying this later? This is an easy one.  Take a moment before each and every purchase to think about it!  If you are, forget about it and walk away.  Yes, super-sizing that meal and buying the appetizer and dessert combo sounds fantastic now… But once you eat all of that you’re going to feel terrible and have spent more than you needed to – so don’t do it!  You don’t even have to regret it for yourself!  If your significant other is going to berate you for coming home with a $300 watch or six new pairs of shoes, leave them on the shelf.

Next time you start to pick up an item, try to stop and think.  If it doesn’t match the correct answers to these questions, put it down!  Compulsive shopping is a great way to blow a budget.  So how do you fend off temptation?  What does and doesn’t work for you? Is there some special tip or trick that you can share?

Tags: Budgeting, cheap, cost benefit, expensive, life, Quick Tips, savings, temptation, waste